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Prospect Park, Minneapolis, Minnesota

House hunters and residents alike delight in Prospect Park's mazelike streets, which are lined with trees planted nearly a century ago and homeowners' pristine gardens. "In Minnesota, we're serious about our gardens, and in Prospect Park you can ratchet that up quite a bit," says Joe Ring, longtime resident and historic preservation committee chair for the Prospect Park East River Road Improvement Association. Sandwiched between the University of Minnesota campus and the border of twin (and rival) city St. Paul, this neighborhood has loads of character—and characters. "People here have an exceedingly unique mentality," Ring says of a community that celebrates its political and economic diversity. "If you want a debate," he adds, "come here."

The HousesOf the nearly 800 dwellings, 92 percent are considered contributors to Prospect Park's historic integrity. Nineteenth-century Stick Victorians sit next to mid-20th-century bungalows, and most feature original architectural elements. "Residents here have been good stewards," Ring says. It's common to find a fully restored 2,000-square-foot home built around the turn of the 20th century for less than $400,000. Bargain hunters may find deals as low as $150,000 for a 1,200- to 1,500-square-foot house in need of updates.

Why Buy Here?Bargain homes come on the market regularly in Prospect Park, as the neighborhood's generations cycle, but you'll rarely find one in disrepair. Loads of century-old neighborhood pride mean you can buy a house that's been maintained since the day it was built.